September home sales in Palm Beach County continued to trump 2012 with double-digit increases, but a cooling in volume and price from August may assuage fears that real estate is headed toward another bubble.
The median price for a single-family home in Palm Beach County was $250,000 in September, the same as August, but nearly 12 percent higher than last year, according to a report released Monday by the Realtors Association of the Palm Beaches.
The number of homes purchased was down 15 percent from August, but increased 21 percent from 2012.
At the same time, homes sold at the fastest clip in five years, sitting on the market just 44 days compared to an 85-day wait last year.
Such factors as a stubbornly low inventory of homes, especially those priced between $150,000 and $250,000, probably contributed to the September slowdown in sales volume.